Energy costs rising

Spring upswing near, analysts say

The low gas prices of the past few weeks are coming to an end, according to analysts.

The lower gas prices we’ve been enjoying these past couple of weeks are just about over, analysts say.

Pump prices in Florida are poised for a rebound, thanks to the spring tourism season kicking into high gear, a bullish global oil market and lower gasoline refinery activity.

The average price in Florida for a gallon of unleaded regular dropped another 5 cents over the past week and was $2.52 on Monday. That’s 16 cents lower than the $2.68 reached on Feb. 8.

Whether the next run-up brings the price back to $2.68 or more remains to be seen, but analysts say a course reversal is imminent.

"Energy prices are which should signal the steady slump at rising again, the end for the pump," said Mark Jenkins, spokesman for travel club AAA.

Wholesale gasoline prices climbed last week as gulf coast refiners slowed production to begin their annual maintenance season and transition to warm weather fuel blends, Jenkins said.

“This will make it more expensive for retailers to purchase gasoline, and that added expense will eventually be passed along to the consumer. Based on movements in the market last week, the shortterm increase could amount to only a few cents, but motorists should expect a minimum increase of 20-30 cents spring."

Crude oil prices were continuing to rally on Monday. After closing at $63.55 on Friday — up from $59.20 on Feb. 9 — a barrel of West Texas Intermediate crude was hovering around $64 on the New York Mercantile Exchange shortly after noon.

Meanwhile in South Florida, prices remained higher than the statewide average, largely because of a higher cost of doing business here. In Broward County, the average total this price of $2.59 was 3 cents less than the previous week, while gas stations in Palm Beach County were charging an average of $2.66 — also 3 cents less than a week ago. In Miami-Dade County, Monday’s $2.61 average was 2 cents less than the previous week.

But motorists can find much better prices if they know where to look for clusters of price competition. According to the price comparison website GasBuddy.com, seven gas stations west of